Man, I hate that about your hull, but I am glad that it is you and not me. That makes my work that I have in store seem pretty minuscule. I don't have a freakin' hole in mine, just a bad scratch. It really does look like you are doing the right thing in getting to the inside of the hull. I know it is a little more work, but probably the best solution.

See if you can get a weaved mat like a 1708 or perhaps something a little heavier. In addition, add several layers of chop strand mat. The chop mat will more than likely work fine on it's own in that small of an area, but adding a layer of woven mat adds lateral strength. I guess you know you can get the gel coat hull color from MC. More than likely, you will need to gel coat the surface. The other option is to put a paste on the area, which is gel coat with an added filler, being tiny pieces of fiberglass. Spectrum has the color matched version, but for that color, you will have to request the paste. If you are good at spraying gel, you should be able to blend everything pretty well, otherwise you can have the halo around the repair. Given where it is, you may not care.

Anyway, good job so far and keep loading more pictures of the progress.